Overcoming Productivity Challenges in Small Countries: Lessons from Jamaica

Productivity growth has slowed down globally, and this book explores Jamaica's productivity challenges in achieving its Sustainable Development Goals. It provides examples of handicaps and proposes solutions for other countries to transition from developing to developed and improve their citizens' lives.

Format: Hardback
Length: 287 pages
Publication date: 04 March 2023
Publisher: Springer International Publishing AG

Productivity growth has slowed down significantly worldwide in recent years, largely due to the escalation of economic crises and geopolitical tensions. This book delves into the issue of low productivity growth in small countries, specifically focusing on Jamaica's challenges in achieving its United Nations Sustainable Developmental Goals. Through comprehensive analysis, the book sheds light on the various handicaps faced by small countries and proposes innovative solutions to address their overarching productivity challenges.

Moreover, this study offers valuable insights for other countries seeking to transition from developing to developed status and improve the well-being of their citizens. By examining the experiences and strategies of Jamaica, other nations can learn from its successes and failures and develop tailored approaches to boost productivity and achieve sustainable development.

The book begins by providing an overview of the global productivity landscape, highlighting the challenges faced by small countries in terms of economic growth and development. It then delves into the specific case of Jamaica, examining its economic history, political structure, and social factors that contribute to its productivity challenges.

One of the key findings of the book is that small countries often face unique handicaps that hinder their ability to achieve productivity growth. These handicaps include limited access to capital, technology, and skilled labor, as well as political instability, corruption, and inadequate infrastructure. The book explores how these handicaps impact Jamaica's ability to implement productivity-enhancing policies and strategies, such as investment in education and infrastructure, promotion of innovation, and reduction of regulatory barriers.

To address these handicaps, the book proposes a range of innovative solutions. These include promoting entrepreneurship and innovation, encouraging foreign direct investment, and developing strategic partnerships with other countries and international organizations. The book also emphasizes the importance of government policies and regulations that promote productivity and investment, such as tax incentives, infrastructure development, and labor market policies.

Furthermore, the book highlights the role of social factors in productivity growth. It argues that social cohesion, education, and health are essential components of a productive society and that policies that prioritize these areas can contribute to overall productivity improvement. The book provides examples of successful social policies implemented in Jamaica, such as the provision of healthcare and education, and proposes ways in which other countries can emulate these strategies.

In conclusion, this book provides a valuable contribution to the literature on productivity growth in small countries. By examining the challenges faced by Jamaica and proposing innovative solutions, it offers valuable insights for other countries seeking to boost their productivity and achieve sustainable development. The book's comprehensive analysis and practical recommendations make it a must-read for policymakers, researchers, and anyone interested in understanding the factors that contribute to productivity growth and the strategies for overcoming them.

Weight: 549g
Dimension: 210 x 148 (mm)
ISBN-13: 9783031233005
Edition number: 1st ed. 2023